Welcome to the first edition of our new monthly publication
highlighting recent developments in financial crime. We are
sending you Financial Crime Update as you have previously
received its sister publication, Regulatory Investigations Update,
which has featured financial crime news until now.
Month: December 2012
Linklaters: A review of law on Foreign Corrupt Practices in19 jurisdictions across the Americas, Asia-Pacific and Europe
A replete and very usefulreference/guide book!! Foreign corrupt practices represent a serious risk to all organisations with international ctivities. The risk goes not only to financial loss, but also to commercial relationships, reputation, liability and criminal exposure.
MOFO: Amendment to Japanese Investment Management Regulations in Response to AIJ Incident
On October 12, 2012, in response to the recent AIJ scandal, the Financial Services Agency of Japan (the “Japanese FSA”) published a draft amendment to certain rules (“Draft Rules”) intended to revamp the regulation and supervision of discretionary advisory businesses, particularly with respect to employees’ pension fund (kōsei nenkin kikin) clients.
Skadden: Gatz Highlights Standards for Affiliated-Party Transactions
In Gatz Properties, LLC v. Auriga Capital Corp.,1 the Delaware Supreme Court required a manager and controlling member of a Delaware limited liability company to satisfy the entire fairness standard of conduct and judicial review for a conflict transaction because the LLC agreement required affiliated-party transactions to be no less favorable than those entered into with arms-length third parties.